| Variable | N | Countries | Mean | Std. Dev. | Min | Max |
|:---------|---:|----------:|-----:|----------:|----:|----:|
| Current account / GDP (%) | 6,824 | 193 | -1.942 | 13.373 | -242.976 | 314.906 |
| Demographic polynomial Z_1 | 9,243 | 237 | -1.275 | 1.343 | -3.983 | 3.538 |
| Demographic polynomial Z_2 | 9,243 | 237 | -20.190 | 21.110 | -60.887 | 71.552 |
| Demographic polynomial Z_3 | 9,243 | 237 | -290.794 | 304.173 | -850.346 | 1248.352 |
| Fiscal balance / GDP (%, winsorized) | 6,160 | 194 | -2.361 | 5.811 | -20.2 | 20.1 |
| Capital openness (KAOPEN) | 6,378 | 180 | 0.140 | 1.561 | -1.939 | 2.281 |
| Expected GDP growth (%) | 7,106 | 194 | 3.367 | 4.023 | -50.319 | 73.942 |
| Lagged NFA / GDP | 5,252 | 144 | -0.282 | 1.533 | -46.386 | 15.699 |
| Log relative output per worker | 5,753 | 174 | -1.570 | 1.112 | -5.359 | 1.265 |
| Life expectancy (years) | 7,334 | 193 | 68.149 | 9.750 | 10.989 | 85.708 |
| Health expenditure / GDP (%) | 4,464 | 189 | 3.273 | 2.374 | 0.062 | 22.254 |
| Log lending rate | 3,861 | 132 | 0.123 | 0.151 | 0.000 | 6.908 |
| Old-age public spending / GDP (%) | 1,383 | 42 | 19.040 | 6.351 | 0.000 | 34.693 |
| Social insurance coverage (%) | 516 | 116 | 20.786 | 18.180 | 0.539 | 60.233 |

*Notes:* Fiscal balance/GDP winsorized at 1st and 99th percentiles ([-20.2, 20.1]) to limit outlier influence. Log lending rate = log(1 + lending_rate/100); raw lending rates ranged from 0% to 99,765% due to hyperinflation episodes. Statistics computed over the 1986-2024 estimation window.
